SelectQuote, Inc. (NYSE:SLQT) Q4 2024 Earnings Conference Call September 13, 2024 8:30 AM ET Company Participants Matt Gunter - IR Tim Danker - CEO Ryan Clement - CFO Bob Grant - President Bill Grant - COO Conference Call Participants Ben Hendrix - RBC Capital Markets Patrick McCann - Noble Capital Markets Operator Hello, and welcome to SelectQuote's Fourth Quarter Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a quest ...

Financial Data and Key Metrics Changes - SelectQuote's consolidated revenue for Q4 2024 grew 39% to $307 million, driven by double-digit growth in the Senior business and a 75% increase in SelectRx revenue [21][22] - Full year consolidated revenue expanded by 32% to $1.3 billion, with EBITDA growing 57% to $117 million, resulting in a full year margin of 9% [24] - The Senior segment generated total revenue of $656 million, representing an 11% growth in fiscal year 2024 [26] Business Line Data and Key Metrics Changes - The Senior Medicare Advantage (MA) business grew overall MA policies by 8% in fiscal 2024, with strong EBITDA margins of 25% [8][9] - Healthcare Services revenue grew nearly 90% to $479 million, with membership increasing by 68% year-over-year to 82,000 [13][22] - The Life business revenue for Q4 was $42 million, up 11% year-over-year, while the Auto & Home segment generated $8 million for Q4 [26][27] Market Data and Key Metrics Changes - The demand for Medicare Advantage remains strong, supported by the aging American population [15] - SelectQuote expects a 10% to 15% decline in approved policy count for fiscal 2025 due to a new commission structure from a large carrier partner [17][29] - The Healthcare Services segment is anticipated to see continued strong membership growth of 20% to 25% in fiscal 2025 [29] Company Strategy and Development Direction - SelectQuote aims to improve its capital structure through an initial securitization of around $100 million, which would extend term debt maturity to fall 2027 [5][14] - The company is focused on enhancing profitability and cash efficiency, prioritizing unit profitability over volume [4][6] - The strategic redesign has positioned SelectQuote to leverage its data assets and customer service capabilities to capture market opportunities [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth despite anticipated challenges in 2025 due to capital constraints and changes in commission structures [6][15] - The company remains confident in its ability to deliver target margins of over 20% in the Senior business, even in varying market conditions [29] - Management highlighted the importance of their tenured agent force in navigating the upcoming Medicare Advantage season [36][38] Other Important Information - SelectQuote's Healthcare Services segment achieved its fifth consecutive quarter of profitable adjusted EBITDA, contributing close to $8 million for fiscal year 2024 [22][23] - The company plans to rationalize its Auto & Home business, which will no longer be a material contributor to earnings but will improve overall operating cash flow [27][30] Q&A Session Summary Question: Discussion on the $100 million securitization - Management expressed excitement about the LOI for securitization, emphasizing its importance for extending term debt maturity and reducing capital costs [32][33] Question: SelectRx margins for 2025 - Management expects SelectRx to achieve low to mid-single-digit margins in 2025, with long-term potential in the low to mid-teens [34] Question: Impact of new commission structure on growth - Management indicated that the new commission structure would lead to a temporary capital constraint, affecting policy growth but not the overall health of the Medicare Advantage market [29][50] Question: Adjustments to marketing strategy due to heightened shopping - Management noted that while challenges exist, there are significant opportunities to target areas with plan terminations, enhancing close rates [43][44] Question: Benefits of the new distribution facility - The new facility in Kansas City is expected to improve efficiency and reduce shipping costs, contributing to margin improvements [46][48] Question: Comparison of old and new commission structures - The new structure is more back-end loaded, creating short-term working capital constraints but offering more revenue in subsequent years [50][51]

Exhibit 99.1 SelectQuote, Inc. Reports Fourth Quarter of Fiscal Year 2024 Results Fourth Quarter of Fiscal Year 2024 – Consolidated Earnings Highlights • Revenue of $307.2 million • Net loss of $31.0 million • Adjusted EBITDA* of $14.4 million Fiscal Year 2025 Guidance Ranges: • Revenue expected in a range of $1.4 billion to $1.5 billion • Net loss expected in a range of $42 million to $6 million • Adjusted EBITDA* expected in a range of $90 million to $120 million Fourth Quarter Fiscal Year 2024 – Segment ...

4 th Quarter Fiscal 2024 | We shop. You save. Earnings Conference Call Presentation September 13, 2024 Disclaimer Forward-Looking Statements This presentation contains forward-looking statements. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements are often, but not always, made through the use of words or phrases such as "may," "should," "could," "predict," "potential," "believe," "will likely result," ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR 6800 West 115th Street Suite 2511 66211 Overland Park Kansas (Zip Code) (Address of principal executive offices) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to 001-39295 (Commission File Number) ...

SelectQuote, Inc. (NYSE:SLQT) Q3 2024 Results Conference Call May 9, 2024 9:00 AM ET Company Participants Matt Gunter - Investor Relations Tim Danker - Chief Executive Officer Ryan Clement - Chief Financial Officer Bob Grant - President Conference Call Participants Ben Hendrix - RBC Pat McCann - Noble Capital Markets Operator Hello, all, and welcome to SelectQuote's Fiscal Third Quarter Earnings Conference Call. [Operator instructions]. It's now my pleasure to introduce Matt Gunter, SelectQuote Investor Re ...

Exhibit 99.1 SelectQuote, Inc. Reports Third Quarter 2024 Results Third Quarter of Fiscal Year 2024 – Consolidated Earnings Highlights Raising Fiscal Year 2024 Guidance Ranges: Third Quarter of Fiscal Year 2024 – Segment Highlights Senior Healthcare Services Life Auto & Home OVERLAND PARK, Kan., May 9, 2024--(BUSINESS WIRE)--SelectQuote, Inc. (NYSE: SLQT) reported consolidated revenue for the third quarter of fiscal year 2024 of $376.4 million, compared to consolidated revenue for the third quarter of fisca ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to 001-39295 (Commission File Number) SelectQuote, Inc. (Exact name of registrant as specified in its charter) Delaware 94-3339273 (State or other j ...

Financial Data and Key Metrics Changes - SelectQuote reported consolidated revenue of $405 million, a 27% year-over-year increase, and adjusted EBITDA of $67 million compared to $64 million a year ago [13][28] - Adjusted EBITDA margin declined due to a higher mix of healthcare services revenue, with healthcare services revenue more than doubling year-over-year to $112 million [13][28] - The company expects to approach breakeven free cash flow for fiscal 2024, with cash flow generation anticipated to expand as healthcare services scale [7][12] Business Line Data and Key Metrics Changes - In the Senior segment, revenue grew to $248 million, an 11% increase year-over-year, driven primarily by Medicare Advantage policy growth [36] - The lifetime value (LTV) of policies increased by 7% to $934 per policy, reflecting stable policyholder persistency [9][36] - The Healthcare Services segment surpassed original member growth expectations, reaching nearly 63,000 members, with a sequential growth of 19% compared to the previous quarter [16][29] Market Data and Key Metrics Changes - The company noted a more rational competitive landscape in the industry compared to previous years, with stable agent efficiency despite increased marketing costs due to new CMS marketing rules [9][15] - The average prescription shipped per member grew by 76% year-over-year, indicating significant scale in the distribution business [38] Company Strategy and Development Direction - SelectQuote aims to generate stable and attractive EBITDA margins while focusing on returns to invested capital and growing cash flow [6] - The company is leveraging its existing marketing spend to create new revenue streams, particularly in healthcare services, which is expected to drive future growth [49][74] - The strategic focus includes enhancing automation and improving system architecture to reduce costs while continuing to grow [68] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to maintain persistency and stability in policyholder retention, despite increased shopping behavior in the market [23][65] - The company is optimistic about the future, citing strong performance in both the Senior and Healthcare Services divisions, and has increased revenue and adjusted EBITDA outlooks for fiscal 2024 [27][40] Other Important Information - SelectQuote is actively working on restructuring its balance sheet to improve its earnings profile and operating flexibility, with a focus on securitization as a potential solution [20][56] - The company highlighted that it is on track to produce approximately $100 million of unlevered operating cash flow in fiscal 2024 [20] Q&A Session Summary Question: What are the prospects for continued synergies between the pharmacy business and the senior segment? - Management highlighted strong growth in SelectRx, indicating significant synergy with the Medicare Advantage customer base and potential for further adoption [63][64] Question: How does the company view its debt levels as it progresses towards free cash flow generation? - Management acknowledged the meaningful debt balance and emphasized that addressing it is a priority, with ongoing negotiations for a long-term solution [56][70] Question: Can you comment on the lifetime value outlook and the impact of carrier mix? - Management expressed confidence in maintaining persistency and noted that the stabilization observed is a strong foundation for future growth [22][45]

*See "Non-GAAP Financial Measures" above on slide 2. $90 $MM | We shop. You save. MA LTV | We shop. You save. 8 LTM 9/30/22 LTM 9/30/23 9 60,000 $MM | We shop. You save. l | | l $37 $38 $7 $9 Life Auto & Home 1Q23 1Q24 $5 $5 $2 $3 Life Auto & Home 1Q23 1Q24 11 12 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------------------------------------------------|-------|--------|-------|----------------------|-------|------------|-------------|-------|--------- ...